Handelsbanken Fonder AB Decreases Stake in CSX Corporation $CSX

Handelsbanken Fonder AB lessened its holdings in shares of CSX Corporation (NASDAQ:CSX) by 5.8% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,062,622 shares of the transportation company’s stock after selling 65,293 shares during the period. Handelsbanken Fonder AB owned approximately 0.06% of CSX worth $34,673,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of CSX. Crestwood Advisors Group LLC acquired a new position in shares of CSX during the 2nd quarter worth $237,000. Elyxium Wealth LLC purchased a new stake in CSX during the second quarter worth about $205,000. Arkadios Wealth Advisors grew its position in CSX by 83.4% during the second quarter. Arkadios Wealth Advisors now owns 48,182 shares of the transportation company’s stock worth $1,572,000 after buying an additional 21,906 shares during the period. Strategic Blueprint LLC increased its holdings in CSX by 14.4% in the second quarter. Strategic Blueprint LLC now owns 8,022 shares of the transportation company’s stock valued at $262,000 after buying an additional 1,012 shares in the last quarter. Finally, Private Wealth Asset Management LLC increased its holdings in CSX by 12.5% in the second quarter. Private Wealth Asset Management LLC now owns 16,557 shares of the transportation company’s stock valued at $540,000 after buying an additional 1,843 shares in the last quarter. Institutional investors and hedge funds own 73.57% of the company’s stock.

Insider Buying and Selling

In other CSX news, CEO Stephen F. Angel purchased 55,000 shares of the stock in a transaction on Monday, October 20th. The stock was bought at an average price of $36.87 per share, for a total transaction of $2,027,850.00. Following the acquisition, the chief executive officer directly owned 58,234 shares of the company’s stock, valued at $2,147,087.58. This represents a 1,700.68% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available at this link. Also, SVP Michael S. Burns sold 24,249 shares of the stock in a transaction dated Monday, October 20th. The stock was sold at an average price of $36.76, for a total transaction of $891,393.24. Following the transaction, the senior vice president owned 51,640 shares in the company, valued at approximately $1,898,286.40. The trade was a 31.95% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.55% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on CSX. Stephens boosted their price target on CSX from $39.00 to $41.00 and gave the stock an “overweight” rating in a research note on Monday, October 6th. Jefferies Financial Group set a $42.00 price objective on CSX and gave the stock a “buy” rating in a report on Friday, October 17th. Royal Bank Of Canada boosted their target price on CSX from $39.00 to $41.00 and gave the stock an “outperform” rating in a research report on Tuesday, September 30th. JPMorgan Chase & Co. upped their target price on CSX from $40.00 to $41.00 and gave the company an “overweight” rating in a report on Monday, October 20th. Finally, The Goldman Sachs Group lifted their price target on CSX from $35.00 to $37.00 and gave the stock a “neutral” rating in a research note on Friday, October 17th. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and six have given a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $39.09.

CSX Price Performance

Shares of NASDAQ:CSX opened at $34.28 on Friday. The company has a debt-to-equity ratio of 1.45, a quick ratio of 0.71 and a current ratio of 0.85. The business’s fifty day moving average price is $35.05 and its two-hundred day moving average price is $33.72. The stock has a market cap of $63.83 billion, a PE ratio of 22.41, a price-to-earnings-growth ratio of 2.75 and a beta of 1.31. CSX Corporation has a one year low of $26.22 and a one year high of $37.25.

CSX (NASDAQ:CSX) last issued its quarterly earnings data on Thursday, October 16th. The transportation company reported $0.44 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.42 by $0.02. The business had revenue of $3.59 billion for the quarter, compared to the consensus estimate of $3.60 billion. CSX had a return on equity of 24.95% and a net margin of 20.55%.The business’s revenue was down .9% on a year-over-year basis. During the same period in the prior year, the business earned $0.45 earnings per share. On average, analysts forecast that CSX Corporation will post 1.83 EPS for the current fiscal year.

CSX Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 15th. Shareholders of record on Friday, November 28th will be paid a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a dividend yield of 1.5%. The ex-dividend date of this dividend is Friday, November 28th. CSX’s dividend payout ratio (DPR) is currently 33.99%.

CSX Profile

CSX Corporation, together with its subsidiaries, provides rail-based freight transportation services. The company offers rail services; and transportation of intermodal containers and trailers, as well as other transportation services, such as rail-to-truck transfers and bulk commodity operations. It also transports chemicals, agricultural and food products, minerals, automotive, forest products, fertilizers, and metals and equipment; and coal, coke, and iron ore to electricity-generating power plants, steel manufacturers, and industrial plants, as well as exports coal to deep-water port facilities.